TEMPLATE FOR A SMALL BUSINESS TO ACCESS LOANS AND GRANTS
In order to determine whether you have a solid business idea, you need to do thorough research and make a business plan to show that your idea is realizable. For your business to attract investors, banks, creditors, even your employees, you need to have a good business idea and must be well stated in your business plan. These sets of outsiders would be expecting a good return based on what you have in your business plan. Your business plan serves as the rule or constitution guiding your business and it is important to know that your business needs externals to grow; externals include, funders, banks, e.t.c.
Your business plan is a platform where you can communicate your ideas to investors and if they consider it worthy, they will provide the capital. It then means that your business plan must rise to the taste or standard of investors, such that if any investor sees your business plan, they would be willing to be part of your business.
In your quest of getting investor’s attention through your business plan, you have to spend time thinking about your target market, marketing strategy, your competitors, your financial forecast, the problem your goods/services will solve, how you want to spend money to grow your business and more. In all, you must prepare a business plan that will attract investors. To do this, you must identify the investors’ needs required rate of return on investment, demonstrate evidence of the focus on a limited number of products or services, and have a proprietary market position through patents, copyrights, and trademarks.
Below is the template that includes the key elements for what goes into each step of the process to help create a business plan that will enable to have access to loans and or grants.
SECTION 1: EXECUTIVE SUMMARY
The purpose of the executive summary is to give readers a high-level view of the company and the market before further into details. It appears first but written last and it provides an image of your business explaining who you are, what you do, and why. The executive summary provides a short, concise, and optimistic overview of your business to capture the reader’s attention. Not only that, your executive summary portrays all what your business entails and a well-written executive business plan will give you an advantage ahead of others in terms of getting loans and grants from investors and banks.
SECTION 2: BUSINESS OVERVIEW
Here, you will need to describe your business, what you are into and how you intend to satisfy your customers. In your business overview, you also state your mission, business location details, business structure, and business owner details, and how your products or services meet those needs. Define your business purpose and a statement based on your perception of the company’s growth potential. Ensure you include your specific goals and objectives. Provide background information about the company, including a brief history of the business and a list of fundamental company principles.
SECTION 3: MARKET ANALYSIS AND COMPETITION
This is another section of your business plan, an analysis of your market and competition. The market will definitely determine how successful your business will be. You will need to demonstrate that you have thoroughly analyzed your target market and have a high sufficient demand for your products/ services to make your business viable. The analysis of your competition should include a comprehensive assessment of your competition and how your business will compete in the sector. Describe the industry within which your business will operate, identify and provide a general profile of your target market, and describe the share of the market you have or anticipate for. Include both an analysis of research done by others together with your own research. Outline the strengths and weaknesses of potential competitors and strategies that will give you a competitive advantage.
SECTION 4: SALES AND MARKETING PLAN
Structure a marketing plan and sales strategy. Under this section, you can plan out your comprehensive marketing and sales strategies to cover how you plan on selling your product. Before working on your marketing and sales plan, you will need to have your market analysis completely sorted out and choose your target client. Discuss the competitive landscape, describe how you intend to entice your customers to buy your products or services, including advertising and promotion, sales and distribution, your pricing strategy, and post-sales support.
SECTION 5: OWNERSHIP AND MANAGEMENT PLAN
Here, you outline all operations and management roles. In this section, you need to describe the ownership, business management, and staffing requirement. Use this section to outline your company’s unique organizational and management structure. Describe how your business is organized, including its legal structure (sole proprietorship, partnership, and corporation); identify any special licenses your business operates with; provide a brief bio-data of key managers within your company; including an organogram of your business.
Read Also: HOW TO WRITE A PITCH FOR YOUR BUSINESS
SECTION 6: OPERATING PLAN
The operating plan outlines your business’s physical requirements. Such as office, retail space, equipment, inventory, supplies, and labor. The operating plan for consulting firms is short and straightforward. While for businesses such as restaurant or manufacturers that requires custom facilities, supply chains, multiple employees, and specialized equipment, the operating plan may need to be detailed.
SECTION 7: FINANCIAL PLAN
The most important part of your business plan is the financial plan section. This is because you need finance to achieve your objectives; whether you borrow from the bank or from investors. A financial plan is most crucial, especially if you need debt financing or something to attract investors. The financial plan must demonstrate your business growth and show that your business has the potential to generate profit. To do this, you need to provide projected income statements, cash flow, statements, and balance sheets. For new businesses, these are forecasts. A golden rule of thumb is to underestimate revenues and overestimate expenses. Outline your financial plan, including your business costs, revenue projections, and a funding request if you pitch to investors.
SECTION 8: APPENDIX
Your appendix section should contain any detailed information needed to support other areas of the plan, including company brochures resumes of key employees, a list of business equipment, copies of press articles and advertisements, picture of your business location and products.
It is pertinent to know that every business possesses a distinctive story followed by an individual request for a financial loan or any other assistance (grants).
If you need a service of a Professional Business plan writer, then Dayo Adetiloye Business Hub is the place to go Call or WhatsApp us now on 081 0563 6015, 080 7635 9735 or send an email to email@example.com and we will solve any of your business plan problems.
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